ISBN: 9780471510536

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not … Mehr…

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ... It remains now to attempt an expression of the market demand and supply of a commodity in terms of the three distinct marketbargain factors--quantity, price, and time. This attempt will constitute the second part of our discussion concerning the general characteristics of these phenomena. II Hitherto we have been engaged in the task of sifting from the rather heterogeneous mass of current thought, in regard to demand and supply, characteristics which admit of being arranged in a consistent series. We have now the far more difficult task of discussing the effect upon these phenomena of a most significant modern economic development--the transition from money to credit economy. The current conceptions of demand and supply which have been dominant in economic thought take little or no account of this development. They rest on a naive assumption of impossible It is to be understood, of course, that these figures and illustrations are merely arbitrary; there is no necessary reciprocal relation between the extent of demand and supply as here represented. market simplicity. They assume a market in which buyers and sellers are engaged exclusively in the exchange of consumption goods for their own immediate uses, in which, in other words, there are no exchanges of intermediate goods, or relatively permanent productive agents, no credit sales, and no bargains for future delivery. In short, they assume a market in which the time element is lacking. It is our purpose now to rise above this naive conception of the market and to consider, sixthly, the effect upon the general character of demand and supply of the fact that bargains for purchase and sale are concluded with reference not only to tneantu, .andj): rice of TOmmodities, but also Lo the... Media > Book, [PU: Wiley]<

ISBN: 9780471510536

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not … Mehr…

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ... It remains now to attempt an expression of the market demand and supply of a commodity in terms of the three distinct marketbargain factors--quantity, price, and time. This attempt will constitute the second part of our discussion concerning the general characteristics of these phenomena. II Hitherto we have been engaged in the task of sifting from the rather heterogeneous mass of current thought, in regard to demand and supply, characteristics which admit of being arranged in a consistent series. We have now the far more difficult task of discussing the effect upon these phenomena of a most significant modern economic development--the transition from money to credit economy. The current conceptions of demand and supply which have been dominant in economic thought take little or no account of this development. They rest on a naive assumption of impossible It is to be understood, of course, that these figures and illustrations are merely arbitrary; there is no necessary reciprocal relation between the extent of demand and supply as here represented. market simplicity. They assume a market in which buyers and sellers are engaged exclusively in the exchange of consumption goods for their own immediate uses, in which, in other words, there are no exchanges of intermediate goods, or relatively permanent productive agents, no credit sales, and no bargains for future delivery. In short, they assume a market in which the time element is lacking. It is our purpose now to rise above this naive conception of the market and to consider, sixthly, the effect upon the general character of demand and supply of the fact that bargains for purchase and sale are concluded with reference not only to tneantu, .andj): rice of TOmmodities, but also Lo the... Media > Book, [PU: Wiley]<